Looking for a new home or investing in renovations is one of the toughest decisions a homeowner can make. Here’s what you need to consider!

As families expand and lifestyles change, every homeowner ponders whether they should invest in home renovations or buy a new home. It could be due to not having enough space anymore, or simply just wanting a change of scenery. Either way, it’s a difficult decision for most people and weighing the options can be complicated.

The final answer to this decision ultimately depends on your budget, neighborhood, and the housing market. These three factors all play a crucial role as to whether you start over in a new place or transform your existing home. Many homeowners will literally make a list of the pros and cons and weigh their options, but here’s a few more things you should factor into the decision making process:

• Does your local municipality allow the renovations you’d like to make? This could impede your plans for creating your dream home.
• Is your home currently located in a seller’s market? If you can sell your home at a great price in a timely manner, it could be worth it.
• How much of a headache and ordeal will a move be compared to renovations, and vice versa? Finding your home may have been a difficult search, do you honestly want to go through this process again?
• Are your neighbors improving their homes? Selling the highest price home in a neighborhood could be difficult down the road.

 

If you’re still on the fence as to what you should do, give me a call! I will work with you to weigh your options, do price comparisons in the area and help you through the process as stress-free as possible!